News

ICAEW’s briefing to parliamentarians on the Serious Crime Bill warns that the legislation won’t help authorities to convict more “crooked” lawyers and accountants, and will make it harder for former criminals to make an honest living.

At the Small Business Economic Forum meeting last week Michael Izza argued that this year’s budget was a budget for big business rather than the small business sector. A view echoed by both the CBI and the Forum for Private Business.

As the CBI publishes a major report on business tax, ICAEW warns that without a more informed political debate on the contribution of British business, the UK cannot pursue the right policies for growth.

ICAEW has been working with the UK Government together with other professional bodies on a new service for 2013 which will enable businesses to identify ICAEW chartered accountants in practice who can provide independent advice on business finance.

ICAEW is pleased to be supporting the Government’s new enterprise loan scheme for 18 to 24 year olds as announced by Lord Young. As part of this new scheme, ICAEW has produced a 9 step guide to help budding entrepreneurs develop their business plans with a direct offer for a free advice session as part of ICAEW’s Business Advice Service.

ICAEW hosted the launch of the Industry-led Taskforce proposals to develop access to non‐bank lending channels which was commissioned by Vince Cable and chaired by Tim Breedon, Chief Executive of Legal & General Group plc.

ICAEW has been working closely with the Department for Business, Innovation and Skills (BIS) and Parliamentarians to create a cost-effective and efficient application process for the allocation of the Government’s Regional Growth Fund.

Despite the UK’s recent triple-A downgrade, ICAEW’s latest Business Confidence Monitor (BCM) suggests that business confidence is at its highest level since 2011. Recent pro-growth policies such as the increase in capital investment for infrastructure will make a real difference. But to maintain this momentum, the Budget must go further.

Our latest research suggests policy progress is mixed. While half of our business members have seen progress on our tax system’s competitiveness, the majority feel there has been no progress on the Government’s other growth targets.

Budget 2012

As currently set out, the legislation is seriously flawed in principle and in practice. Unless the government withdraws this clause and schedule with a view to tabling a more workable alternative in time for the Bill’s third reading, we believe the new tax charge could be an operational and reputational disaster for the government and HMRC.

A panel of business experts held a filmed web discussion to analyse what the Chancellor's budget means for businesses. Hosted by economia editor Richard Cree, the panel considered what the likely impact of the government announcements will be on business and stimulating UK growth. Panellists at the post-budget analysis were Danielle Stewart, partner at Baker Tilly, Sarah Buckley, Public Affairs Manager at ICAEW, and Gordon Skaljak from commercial credit reference agency Graydon UK.

ICAEW’s research helps to inform policymakers of business issues. ICAEW’s Business Confidence Monitor is one of the largest and most comprehensive quarterly reviews of UK business confidence which helps provide a regular snapshot of the economy.

2014

Productivity is a critical piece of the growth jigsaw. Any prolonged period of low productivity can seriously jeopardise the growth potential of an economy; a danger which the UK’s fragile recovery faces. See ICAEW’s submission to the APPG Small Business inquiry into low levels of productivity in the UK. We also provided oral evidence on this to MPs in Parliament.

2011

ICAEW’s annual survey of businesses shows that a raft of new regulation introduced this year has reversed last year’s slight improvement in the UK’s business environment, and that exports remain the best prospect for growth.

The Coalition government is continuing its drive to increase UK exports, in support of this, ICAEW hosted a private roundtable with Lord Green and 20 leading small practice representatives, UKTI and UK Export Finance to discuss progress with the government’s ‘Export Challenge’ and what more can be done to help.

The Coalition government has renewed enterprise and trade policy to help SMEs to do more business abroad. In light of this, ICAEW hosted a private roundtable with Lord Green and 30 leading representatives from across the accountancy profession, UKTI and UK Export Finance to discuss progress with the government’s ‘Export Challenge’.